20 Nov Holly Walther Lending Team: Fun Fact Friday – Credit Freezes and Other Holiday Do’s
Holly: Hey guys, happy Friday! It’s Holly and little miss Daisy. And man, is she tuckered out and ready for a long, well, it’s actually not a long weekend. Because the holiday falls on next Thursday. So we just wanted to be the first to wish you, and those, you love a very happy Thanksgiving. And as we move into the holiday season, as always, all those great sales are going to be in your inbox. They’re going to be all over the TV. We just wanted to remind you of a few credit tips.
One thing I would suggest, if you’re not planning on opening any new accounts, now would be a great time to do a credit freeze. In the information below you’ll see the direct websites where you can link to each of the individual bureaus. And that would be a great time to get your credit frozen. What that’s going to do is that’s going to protect you from any kind of credit card fraud. And what I mean is people stealing your identity and opening new accounts. That doesn’t mean somebody still couldn’t steal your credit card number and have some fun on your charge card. But typically when that happens, the credit card company steps in and investigates that. So that gives you that extra layer of protection. So that’s the first holiday tip as we move into the season. Get that credit freeze on your credit report.
Second, if you opt not to do that, and you are a deal finder and you’re looking for all those major savings, be leery of when you’re asked at checkout, if you want to open a credit card to save an additional 20%. That is a hit on your credit. That is a new credit line. And if refinancing or purchasing a home is in your near future, that is a step I would hesitate on taking. It is not worth that 20% discount to hit your credit score and possibly change the dynamics of your financing as you move forward. So those are quick two quick holiday tips. Again, I hope you, and those you love have a fantastic Thanksgiving. We are thankful for you and we will see you next week!